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1,000 Home Battery Scheme subsidies approved

The Marshall Government’s $100 million Home Battery Scheme has enjoyed a surge of interest during the summer months with more than 1000 subsidies now approved.

“The spike in the number of approved subsidies for home batteries comes on the back of a 262% increase in requests for quotes during the month of January,” said Minister for Energy and Mining Dan van Holst Pellekaan.

“More and more people are realising that the Marshall Government’s Home Battery Scheme is a good way to cut their electricity bills.

“It is fantastic to see such a strong response to a central plank of the Liberal Government’s plan to deliver more affordable, reliable and cleaner energy to South Australian households and businesses.

“Port Pirie is the leading postcode for uptake of the subsidy, highlighting the appeal of the scheme in regional South Australia.

“The residents of northern Adelaide have also shown particularly strong interest in the subsidy with the suburbs clustered around Smithfield, Craigmore and Andrews Farm having the highest uptake in metropolitan Adelaide.

“There are now eight battery brands eligible for the subsidy and more than 60 system providers to choose from and we are seeing steady interest from households across the state.”

The Home Battery Scheme launched on 29 October 2018, providing subsidies and loans to 40,000 households to help pay for the installation of home battery systems.

Early adopters of renewable energy technology have been keen to apply for the subsidy.

Data shows that almost 80 per cent of customers who have purchased a battery through the scheme had solar panels before applying for the subsidy.

The cost of a home battery system ranges from $2,500 to $20,000. More than 70 per cent of households have bought larger battery systems, with a storage capacity of between 10 and 13kwh (kilowatt hours).

“Within the next few months these 1,000 households will see the benefits of cheaper power bills,” said Minster van Holst Pellekaan.

“In addition, the installation of these larger systems will reduce demand on the network lowering power prices for all South Australians.”

The subsidy is available to all South Australians and is calculated on the kilowatt hour capacity of the battery being installed, up to a maximum of $6,000.

Low-interest finance is also available to help households pay for the balance of the battery and new solar if required.

“In delivering the Home Battery Scheme we have been able to help low-income households overcome the upfront financial barriers to accessing storage technology,” said Minister van Holst Pellekaan.

“Of the 1,000 subsidy applications approved to date, 15 per cent have been made by Energy Concession holders, who are eligible for a higher subsidy within the $6,000 cap.

“What the data shows is that the Home Battery Scheme is bringing affordable power within reach for thousands of South Australians.

“Importantly, the Marshall Government’s highest priority is the reduction of power prices for all South Australians by scheme participants reducing their draw on the grid which reduces grid prices for all other electricity consumers.”